In this episode Associate Director of Tax Services Joel Young, JD, LLM, shares an overview of FIRPTA, the goals of the program and who might make a misstep.
The Foreign Investment in Real Property Tax Act (FIRPTA) is a U.S. law enacted in 1980 to ensure foreign owners of U.S. real property interests pay their fair share of federal taxes on the profits they may yield from the eventual sale or disposition of those properties. It requires advanced planning and specific actions by […]
With the complexity of the U.S. tax code, foreign persons may inadvertently trigger a withholding tax on the sale or disposition of U.S. real estate even when they are party to an otherwise tax-free reorganization. It is important for foreign individuals to understand the nuances of the Foreign Investment in Real Property Act (FIRPTA) and […]